Citigroup to exit Argentina custody business

NEW YORK, March 17 (Reuters) - Citigroup Inc on
Tuesday said it plans to exit its custodial business in
Argentina as soon as possible, after a U.S. judge refused to
disturb an injunction that blocked the bank from processing
interest payments on $2.3 billion of Argentina bonds.

In a letter to U.S. District Judge Thomas Griesa in
Manhattan, Citigroup said it made its decision in light of his
March 12 order letting the injunction stand, and Argentina's
renewed threats to strip Citibank Argentina of its banking
license and to impose criminal, civil and administrative
sanctions.